HYPE Technical Analysis Jan 22

HYPE is currently trading at $21.77 and is stuck between the strong $20.48 support zone and $22.11 resistance. While liquidity hunting continues in this critical range, MTF confluences confirm the downtrend.

Current Price Position and Critical Levels

HYPE is positioned at $21.77 within the overall downtrend and maintains its bearish structure despite a slight 24-hour increase of %1.54. The price is trading below EMA20 ($24.28), which gives a short-term bearish signal. RSI at 37.23 is approaching the oversold region, Supertrend is bearish and shows $26.75 resistance. 13 strong levels were identified across 1D/3D/1W timeframes: 2 supports/2 resistances on 1D, 3S/3R on 3D, 3S/3R confluence on 1W. The last 24-hour range stayed between $20.48-$22.20, with volume at $522.63M at moderate levels. This structure indicates buyers defending at $20.48, while sellers dominate at $22.11. Historically, the price has been tested and rejected multiple times at these levels, highlighting them as liquidity collection zones.

Support Levels: Buyer Zones

Primary Support

$20.4800 (Score: 78/100) – This level stands out as HYPE’s most critical buyer zone. Why? It perfectly overlaps with the recent low ($20.48) on the 1D timeframe and features order block (OB) formation in 3D/1W confluence. It has shown strong bounces in 3 historical tests, confirmed by volume spikes (e.g., 2x volume increase around $20.50 last week). It also confluences with EMA50 ($21.20), making it a liquidity pool: ideal for stop-loss hunting. When price approaches here, buyers step in because below ($20.00) creates a large gap. Invalidation below $20.20; if broken, $12.41 downside target activates (R/R 1:3 potential).

Secondary Support and Stop Levels

$21.4600 (Score: 64/100) – Secondary support, just below the current price and important for short-term buyer relief. Aligned with swing low on 1D, demand zone on 3D. According to volume profile, it held in medium-volume tests (2 tests, 80% rejection rate). Close confluence with Supertrend, monitor below $21.30 for stop hunting. Secondarily, $21.00 psychological level plays a supportive role. If this zone breaks, expect quick slide to primary support; invalidation below $21.00 increases bearish momentum.

Resistance Levels: Seller Zones

Near-Term Resistances

$22.1150 (Score: 65/100) – Nearest-term first obstacle, overlapping with the last 24-hour high ($22.20) supply zone. Strong rejection wicks on 1D (3 wicks), seller dominance with volume decrease. Liquidity collection point before EMA20 ($24.28) approach; must be tested for breakout. Partial confluence with 1W resistance in MTF, 70% rejection rate. Volume confirmation above $22.30 required for breakout, otherwise high fakeout risk.

Main Resistance and Targets

$38.8796 (Score: 65/100) – Main resistance, long-term supply block and 1W/3D confluence peak. Strong selling pressure in historical peak tests (2x), low-volume rallies ended here. Upside target $31.81 as intermediate stop; requires close above EMA20 and RSI 50+ to reach. $38.88 is a liquidity zone where big players accumulate short positions – breakout would signal trend change, invalidation on $22.00 break below.

Liquidity Map and Big Players

On HYPE’s liquidity map, stop clusters below $20.48 (long stops) and buy stops above $22.11 stand out. Big players (smart money) may be accumulating longs at $20.48 OB while opening shorts at $22.11 supply. Imbalances on 1W between $21.46-$22.11 remain uncleared, sweep expected in this range. Volume profile: POC (point of control) at $20.48, sellers waiting at $38.88. Price action: VSA (volume spread analysis) buy signal at $20.48 during recent drop, bear trap potential. Preparing for $22.11 test after liquidity grab, but short bias dominates in downtrend.

Bitcoin Correlation

HYPE, as a highly correlated altcoin with BTC ($90,082 BTC price, %0.41 change), is affected by BTC’s downtrend. If BTC loses $89,070 support (Supertrend bearish), HYPE pulls to $20.48; $87,264 break triggers $12.41 HYPE target. Conversely, BTC breakout above $91,034 brings $22.11-$31.81 rally in HYPE. BTC dominance increase crushes altcoins, monitor $94,276 BTC resistance – HYPE remains short-term bearish.

Trading Plan and Level-Based Strategy

Level-based outlook: Hold above $20.48 tests $22.11, breakout to $31.81 intermediate target (R/R 1:2.5). $20.48 break shifts to short bias, $12.41 downside. Risk: 1-2%, stops 0.5% beyond levels. Detailed data for HYPE Spot Analysis and HYPE Futures Analysis. This is general market view, not investment advice – do your own research.